Tuesday, November 5

Tag: financial services

JSW Ventures Gets Sebi Nod For Startup Investments
News

JSW Ventures Gets Sebi Nod For Startup Investments

JSW Ventures, the venture capital arm of the JSW Group, today said it has received clearance from markets regulator Sebi to begin investing in the country. JSW Ventures would focus on providing early-stage funding to technology-enabled startups operating in the education, healthcare, financial services, SaaS (software as a service) and enterprise software space. The fund will have an initial corpus of Rs 100 crore which it will invest over a three-year period. "JSW Ventures, the venture capital arm of the JSW Group, has received the mandatory clearances from Securities and Exchange Board of India (Sebi), paving the way for it to begin investing," a statement by JSW said. "Technology innovation is happening across sectors, from old-fashioned verticals like real estate to research-driv...
Faircent Raises Series A Funding From JM Financials, Picks Up 10 pc Stake
FUNDING

Faircent Raises Series A Funding From JM Financials, Picks Up 10 pc Stake

Financial services firm JM Financial today said it has acquired close to 10 per cent stake in peer-to-peer (P2P) lending startup Faircent. Though the amount has been undisclosed but it's estimated to be close to Rs 16.5 crore (between USD 2.5 million to 3 million). In a filing to the BSE, the company said its subsidiary JM Financial Products has executed the agreement to acquire securities representing up to 9.84 percent on a fully diluted basis of the total paid-up capital of faircent. Faircent is engaged in the business of operating a web portal and mobile application under the name of Faircent.com which provides a virtual peer-to-peer lending marketplace. Without disclosing the deal size, Faircent founder and CEO Rajat Gandhi said "funds raised from the transaction would be used ...